MANG 3778 Midterm Test With
Complete Solution
Data - ANSWER raw facts that describe the characteristics of an event or
object
Information - ANSWER data converted into a meaningful and useful context
Business Intelligence - ANSWER Information collected from multiple sources
such as suppliers, customers, competitors, partners, and industries that
analyzes patterns, trends, and relationship for strategic decision making.
Knowledge - ANSWER includes the skills, experience, and expertise, coupled
with information and intelligence that creates a person's intellectual
resources.
digital transformation - ANSWER While technology is fundamentally
transforming business environments, a reporting Forbes suggests that 72%
of firms are failing.
Internet of Things (IoT) - ANSWER A vision where low-cost sensors,
processors, and communication are embedded into wide array of products
and our environment, allowing a vast network to collect data, analyze input,
and automatically coordinate collective action.
Information Silo - ANSWER occurs when one business unit is unable to freely
communicate with other business unites, making it difficult or impossible for
organizations to work cross-functionally.
hardware, software, data, people and procedure - ANSWER Information
, system components
sustainable competitive advantage - ANSWER Financial performance that
consistently outperforms industry averages.
Operational effectiveness - ANSWER Performing the same tasks better than
rivals.
Commodity - ANSWER a basic good that can be interchanged with nearly
identical offerings by others.
Strategic positioning - ANSWER Performing different activities than rivals, or
the same activities in a different way
Resource-based view (RBV) - ANSWER The strategic thinking approach
suggesting that if a firm is to maintain sustainable competitive advantage
Imitation-resistant value chain - ANSWER A way of doing business that
competitors struggle to replicate and that involves technology in a key
enabling role.
Value Chain - ANSWER Set of activities through which a product or service is
created and delivered to customers.
potential danger - ANSWER Adopting software that changes a unique
process into a generic one.
Brand - ANSWER The symbolic embodiment of all the information connected
with a product or service.
Complete Solution
Data - ANSWER raw facts that describe the characteristics of an event or
object
Information - ANSWER data converted into a meaningful and useful context
Business Intelligence - ANSWER Information collected from multiple sources
such as suppliers, customers, competitors, partners, and industries that
analyzes patterns, trends, and relationship for strategic decision making.
Knowledge - ANSWER includes the skills, experience, and expertise, coupled
with information and intelligence that creates a person's intellectual
resources.
digital transformation - ANSWER While technology is fundamentally
transforming business environments, a reporting Forbes suggests that 72%
of firms are failing.
Internet of Things (IoT) - ANSWER A vision where low-cost sensors,
processors, and communication are embedded into wide array of products
and our environment, allowing a vast network to collect data, analyze input,
and automatically coordinate collective action.
Information Silo - ANSWER occurs when one business unit is unable to freely
communicate with other business unites, making it difficult or impossible for
organizations to work cross-functionally.
hardware, software, data, people and procedure - ANSWER Information
, system components
sustainable competitive advantage - ANSWER Financial performance that
consistently outperforms industry averages.
Operational effectiveness - ANSWER Performing the same tasks better than
rivals.
Commodity - ANSWER a basic good that can be interchanged with nearly
identical offerings by others.
Strategic positioning - ANSWER Performing different activities than rivals, or
the same activities in a different way
Resource-based view (RBV) - ANSWER The strategic thinking approach
suggesting that if a firm is to maintain sustainable competitive advantage
Imitation-resistant value chain - ANSWER A way of doing business that
competitors struggle to replicate and that involves technology in a key
enabling role.
Value Chain - ANSWER Set of activities through which a product or service is
created and delivered to customers.
potential danger - ANSWER Adopting software that changes a unique
process into a generic one.
Brand - ANSWER The symbolic embodiment of all the information connected
with a product or service.
